Al Jalila Foundation, a member of the Mohammed bin Rashid Al Maktoum Global Initiatives, has partnered with a leading cryptocurrency platform to expand the foundation’s donation channels. The foundation has thus become the first healthcare charity in the UAE to accept digital money donations.
The foundation simultaneously announced that it has been granted approval to receive charitable donations in cryptocurrencies.
The unprecedented move in the charity sector aims to expand the Foundation’s donation channels, network and capabilities in line with Dubai’s vision to be a leader in adopting advanced financial technologies and a prominent digital asset hub.
Middle East is one of the fastest-growing cryptocurrency markets in the world, making up seven per cent of global trading volumes. The UAE transacts approximately $25 billion worth of cryptocurrency each year and ranks third by volume in the region.
Crypto philanthropy has emerged as an important and sustainable source of fundraising for charities, giving people greater opportunities to donate for good. Cryptocurrency is also the fastest growing donation method for Millennial and Gen-Z donors.
Also published on Medium.
